Illumina Stock Crashes On Troubling Outlook, Sales Miss

Cody PriceOct 13, 2016

(NASDAQ:ILMN) to report earnings on October, 18.

Legal & General Group Plc sold 1,720 shares in the previous quarter decreasing its exposure to Illumina, Inc.by 0.9%. (NASDAQ:ILMN) in a research note issued to investors on Oct-11-16, the stock received "Reiterated" rating as Hold from $165 to $155.

As stated in an electronic report which was filled with the D.C. based-SEC on 11/10/2016, Daniel Bradbury, director of Illumina Inc and an insider, sold 600 shares of the company for roughly $110,613 U.S. Dollars which is based on an average stock price per share of $184.4. (NASDAQ:ILMN) from a buy rating to a neutral rating in a research note released on Tuesday. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have assigned a buy rating to the company's stock.

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Shares of Illumina, Inc.

Shares of Illumina (NASDAQ:ILMN) traded down 1.60% during trading on Tuesday, reaching $136.76. Sell-side analyst recommendations point to a short term price target of $94.2 on the company shares. Current price level places the company's stock about -3.47% from the 52-week high and 24.13% away from the 52-week low.

The company has a 50 day moving average of 175.01 and a 200 day moving average of 156.56. Illumina, Inc. (NASDAQ:ILMN)'s price to sales ratio for trailing twelve month stands at 8.83, whereas its price to book ratio for most recent quarter sits at 9.92.

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Keep in mind that this is an unaudited estimate, which is based on management's preliminary financial analysis. The company had revenue of $571.80 million for the quarter, compared to analysts expectations of $580.44 million. Illumina had a return on equity of 23.69% and a net margin of 18.73%. The firm's revenue was up 11.3% on a year-over-year basis. They expect $0.91 EPS, up 13.75% or $0.11 from last year's $0.8 per share. CL King initiated coverage on shares of Illumina in a research note on Tuesday, June 21st. Following the completion of the sale, the director now owns 7,224 shares of the company's stock, valued at $1,230,030.48.

The 25% decline was shown at Tuesday's closing price of 138.39 from an opening price of 135.10 incurring a $6 billion dent in the company's market value. (NASDAQ:ILMN) shares. FLATLEY JAY T sold 20,000 shares worth $3.46M. The disclosure for this sale can be found here. Company insiders own 1.60% of the company's stock. Illumina makes up approx 0.35% of Chevy Chase Trust Holdings's portfolio.Washington Trust Bank reduced its stake in ILMN by selling 4 shares or 17.39% in the most recent quarter. Illumina Inc has been the topic of 40 analyst reports since July 22, 2015 according to StockzIntelligence Inc. Looking forward, analysts on average predict that earnings for the current quarter would come in between $0.86 and $0.96. Physicians Financial Services Inc. now owns 733 shares of the life sciences company's stock worth $103,000 after buying an additional 700 shares during the period. Fuller & Thaler Asset Management Inc. bought a new stake in Illumina during the second quarter valued at $112,000. Glenmede Trust Co. NA now owns 3,660 shares of the life sciences company's stock worth $593,000 after buying an additional 760 shares during the period. Capital World Investors increased its position in shares of Illumina by 218.0% in the second quarter.

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